Today on Stockhouse
Jeff Nielson writes that credible analysis of the U.S. economy is difficult to engage.
Daniel J. Graeber looks at taking the high road to Utica shale in Ohio.
Luke Burgess focuses on how investors can profit from global vanadium demand.
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Top Bullboards post: [Copper Fox’s] large percentage of insider ownership makes a back-in by Teck Resources Ltd. (TSX: T.TCK.A, Stock Forum) (TSX: T.TCK.B, Stock Forum) (NYSE: TCK, Stock Forum) still highly speculative, as Teck is not the kind of company that will overpay for a low grade copper resource that is CUU, especially when they have a lot of other projects in the works and several other options for future expansion. There is still a chance that Teck and CUU may not come to terms on a back-in price, and Teck could walk away and decline. There is huge risk of this, and this is why you are not seeing a large amount of buying happening. From Robbster66 in the Copper Fox Metals Inc. (TSX: V.CUU, Stock Forum) board.
Top Bullboard: Intertainment Media Inc. (TSX: V.INT, Stock Forum) was the most posted bullboard and received the highest number of reads.
Top blog: “I have listened to the Don Coxe conference call last Friday and have come off quite impressed about how he is talking about a huge break-out of the stock market after 12 years of consolidation, lead by NASDAQ,’’ writes coffintrader in the WallStreet Investing blog. “I am bullish in the stock markets myself but not as bullish as him. If he is right, the current pull back could be very mild and followed by a strong rally possibly even into the summer.:
For news about small stocks that made big moves in Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
The spike in equities comes along with “continuing favorable economic data,” said Jeffrey Saut, chief investment strategist at Raymond James, during an interview with MarketWatch. “The laggard has been employment, but it’s a damn sight better now than in the first, second or third quarter of ’09.”
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Amerigroup Corp. (NYSE: AGP) |
Q4 |
$0.62 v $1.59 |
|
| Barnes Group Inc. (NYSE: B) |
Q4 |
$0.32 v $0.21 |
|
| Campbell Soup Co. (NYSE: CPB) |
Q2 |
$0.62 v $0.71 |
|
| EOG Resources Inc. (NYSE: EOG) |
Q4 |
$0.88 v $0.36 |
|
| H.J. Heinz Co. (NYSE: HNZ) |
Q3 |
$0.86 v $0.84 |
|
| Ventas Inc. (NYSE: VTR) |
Q4 |
$0.87 v $0.77 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Enbridge Inc. (TSX: T.ENB) |
Q4 |
$0.39 v $0.32 |
|
| Encana Corp. (TSX: T.ECA) |
Q4 |
$0.12 v $0.09 |
|
| Industrial Alliance Ins. ( TSX: T.IAG) |
Q4 |
-$0.96 v $0.80 |
|
Today In The Markets
Positive U.S. data helps push TSX higher amid mounting Greek uncertainty
|
| DJIA |
12,904.08 |
+123.13 |
 |
|
| NASDAQ |
2,959.85 |
+44.02 |
|
|
| S&P500 |
1,358.04 |
+14.81 |
|
|
| S&P/TSX |
12,485.59 |
+123.56 |
|
|
| S&P/TSX Venture |
1,648.11 |
+14.53 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market racked up a solid advance Thursday as further indications of a recovering U.S. economy helped traders balance doubts as to whether Greece will get the bailout money needed to head off bankruptcy.
The S&P/TSX composite index ran ahead 123.57 points to 12,485.59. The TSX Venture Exchange climbed 14.53 points to 1,648.11.
The Dow Jones industrial average jumped 123.13 points to 12,904.08 as the U.S. Labour Department reported that the number of people seeking unemployment benefits dropped 13,000 to a seasonally adjusted 348,000 last week, the lowest point in almost four years.
The Nasdaq composite index gained 44.02 points to 2,959.85 while the S&P 500 index was ahead 14.82 points to 1,358.05.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Applied Materials, Inc. (NASDAQ: AMAT, Stock Forum)
Applied Materials, Inc., the world's leading supplier of manufacturing solutions for the semiconductor, display and solar industries, reported results for its first quarter of fiscal 2012 ended January 29, 2012. Net sales in the quarter fell to $2.19 billion from $2.69 billion a year earlier. Net profits also tumbled in the quarter to $117 million or 9 cents, compared to $506 million or 38 cents in the year ago quarter.
Admiral Bay Resources Inc. (TSX: V.ADB, Stock Forum)
Admiral Bay Resources Inc. announces that it has entered into an agreement to sell the Company's interests in the assets related to the southeast Kansas gas production in the Devon Field for US$127,085.30 in cash, which represents 6 times its calendar year 2011 operating cash flow. The assets are being sold to Running Foxes Petroleum, a private company controlled by Admiral Bay's CEO Steven Tedesco and the transaction is subject to approval of the TSX Venture Exchange. Proceeds will be used to finish the Company's FY 2011 audited financial statements as well as interim FY 2012 financial statements. Upon completion and filing of the financial statements, the Company will apply to the TSX Venture Exchange for a resumption of trading in its common stock.